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CAN AN OFFER TO PURCHASE BE REVOKED BEFORE THE EXPIRY DATE?

So, you view a property on a beautiful summers day and fall in love with it. You immediately decide to make an offer without further questions and without checking your finances thoroughly. You complete the offer to purchase with the estate agent and sign on the dotted line, leaving the offer open for acceptance by […]

SIGNING A SALE OF PROPERTY AGREEMENT – IS A QUILL AND INK STILL REQUIRED?

If you asked whether you could sign a sale of immovable property agreement electronically, the short answer, up until recently, would have been an emphatic “no”.  This is so, as the Alienation of Land Act 68 of 1981 (“ALA”) provides that no sale of land will be of any force and effect unless it is contained in […]

PROPERTY DEFECTS SIMPLIFIED: AN OVERVIEW FOR BUYERS AND SELLERS

Buying a property is an exciting endeavour, but it is crucial to be aware of potential issues that could turn your dream home into a living nightmare. One such concern is the presence of defects, specifically PATENT and LATENT defects. Knowing the difference between the two and understanding your obligations and rights as a Seller […]

WHAT IS A CONVEYANCERS CERTIFICATE, AND WHEN WOULD I NEED ONE?

It has become common practice for municipalities to call for a Conveyancers Certificate upon submission of a Land Use Management (LUM) application. Such an application could be for a regulation departure on submission of building plans, an application for subdivision or rezoning of a property or an application for a particular consent use (eg to […]

I HAVE A TENANT IN MY PROPERTY… CAN I SELL?

You have just renewed your lease with your tenant and suddenly you find a beautiful home you love and you need to release some capital to purchase your dream house. Can you put your property on the market? What happens to the tenant? Whose rights are protected in this situation? YES, you can put your […]

TRIPARTITE AGREEMENTS: ALIVE AND WELL OR DEAD AND BURIED?

We’re often asked whether it is possible to on-sell a property before the property has been transferred to the purchaser, thus circumventing the need to transfer the property twice (from original seller to purchaser, and then from “middle-man” purchaser to end-purchaser). This would involve a tripartite agreement between the three parties, which is best illustrated […]

SUBDIVIDING YOUR PROPERTY – WHAT YOU NEED TO KNOW

SUBDIVIDING YOUR PROPERTY – WHAT YOU NEED TO KNOW   WHAT DOES IT MEAN TO SUBDIVIDE YOUR PROPERTY? Subdivision entails a property owner dividing his existing freehold property into two or more smaller pieces of land. The new pieces of land are called subdivided portions. The property owner can then sell one or more of […]

WHO PAYS FOR WHAT IN THE PROPERTY TRANSFER PROCESS?

TRANSFER COSTS DEMYSTIFIED  Buying or selling property is a very important financial decision in the life of most people. The process of buying or selling a property remains daunting and somewhat mysterious,   and as the costs involved are significant, this is an important factor. At FHA we believe in keeping our clients informed so […]